Measures taken by Government to stabilize prices of essential food items

Government is also implementing Schemes which, inter alia, include Mission for Integrated Development of Horticulture (MIDH), National Food Security Mission (NFSM), National Mission on Oilseeds and Oil Palm (NMOOP), etc. for increasing agricultural production and productivity through appropriate interventions.

Government has taken various measures from time to time to stabilize prices of essential food items which, inter-alia, include appropriately utilizing trade and fiscal policy instruments like import and export duty, Minimum Export Price, export restrictions, etc. to regulate domestic availability and moderate prices; imposition of stock limits and advising States for effective action against hoarders & black marketers ; and, provision of higher Minimum Support Prices to incentivize farmers for increasing production. Government is also implementing Schemes which, inter alia, include Mission for Integrated Development of Horticulture (MIDH), National Food Security Mission (NFSM), National Mission on Oilseeds and Oil Palm (NMOOP), etc. for increasing agricultural production and productivity through appropriate interventions.

Besides, Government is also implementing the Price Stabilization Fund (PSF) to help moderate the volatility in prices of agri-horticultural commodities like pulses, onion, and potato. Ministry of Food Processing and Industries (MoFPI) has also formulated a new scheme “Operation Greens” for integrated development of Tomato, Onion and Potato (TOP) value chain which, inter alia, has the objective of price stabilisation for producers and consumers by proper production planning in the TOP clusters and introduction of dual-use varieties. These policy interventions by Government had ensured that prices of the majority of essential food items monitored by Department of Consumer Affairs have remained relatively stable or declined with only a few recording marginal increase during 2018 over prices in 2017. 

This information was given by the Minister of State for Consumer Affairs, Food &  Public Distribution, Shri C.R. Chaudhary in Lok Sabha today.

(With Inputs from PIB)